Airline passengers, profits to hit record highs in 2024

The International Air Transport Association (IATA) expects airlines to fly a record nearly 5 billion passengers in 2024, surpassing pre-pandemic levels. IATA also raised its forecast for airlines’ net earnings this year to $30 billion, citing a “great achievement” after deep pandemic losses. However, the industry faces rising costs due to shortages, labor challenges, and climate change concerns, with total expenses projected to hit a record high of $936 billion in 2024.